У $SOON price moved first, and OI caught up with it later.
Right now, open interest is around $48.5M — over the past day, it grew by 65.89%.
But the market is noticeably skewed: 59% of traders are in shorts and only 41% in longs.
That creates a strange picture: the price has already shown a strong impulse, OI keeps rising, and most of the crowd is still positioned against the move.
And one more nuance — funding is diverging across exchanges: Binance +0.053%, Bybit +0.069%, while Kraken remains strongly negative.
If $SOON keeps growing, some of those shorts may start closing out, even if they have to. Then the upward move will get extra fuel.
Right now, open interest is around $48.5M — over the past day, it grew by 65.89%.
But the market is noticeably skewed: 59% of traders are in shorts and only 41% in longs.
That creates a strange picture: the price has already shown a strong impulse, OI keeps rising, and most of the crowd is still positioned against the move.
And one more nuance — funding is diverging across exchanges: Binance +0.053%, Bybit +0.069%, while Kraken remains strongly negative.
If $SOON keeps growing, some of those shorts may start closing out, even if they have to. Then the upward move will get extra fuel.
